Godrej Properties acquires ~53-acre of land in Joka, Kolkata

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has acquired a ~ 53 acre land parcel in Joka, Kolkata.

The proposed project is estimated to have a development potential of ~ 1.3 million square feet of saleable area comprising primarily residential plotted development with an estimated revenue potential of ~ INR 500 crore*.

The land is strategically located in the fast-developing micro-market of Joka, which is close to the main city and in proximity to Diamond Harbour, a well-known seaside weekend getaway.

Joka has rapidly transformed into a promising residential hub in Kolkata, fuelled by infrastructure growth. With IIM-Calcutta as an educational landmark, enhanced healthcare facilities, and commercial centers, Joka offers residents convenience and quality of life. On the back of strategic connectivity through Kolkata Metro's Line 3 and extensive road networks, Joka is well-connected to key areas across the city.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "This land acquisition fits with our strategy of deepening our presence across India's leading cities. We will aim to build an outstanding plotted development project in Joka that creates long term value for its residents."

* On the basis of the current business assumptions.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2690.15 as compared to the previous close of Rs. 2630.15. The total number of shares traded during the day was 20005 in over 3231 trades.

The stock hit an intraday high of Rs. 2743.00 and intraday low of 2627.95. The net turnover during the day was Rs. 54216741.00.

Source : Equity Bulls

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GodrejProperties INE484J01027 LandParcel Acquisition 53Acres Joka Kolkata